00:00We meet at a time of growing economic and political complexity and uncertainty, both regionally and globally.
00:10The international system is marked by heightened geopolitical tensions.
00:15Economic volatility, climate induce shocks and disruption to global supply chains.
00:25These pressures are compounded by a growing threat to territorial integrity and the sovereign equality of nations.
00:34At the same time, geopolitics and geoeconomics have become increasingly intertwined,
00:41with trade, technology, finance, food security, energy security and climate policy,
00:49all being used as instruments of strategic competition.
00:53The 45th SADC Summit in Madagascar in August 2025 adopted a theme,
01:02Advancing Industrialization, Agricultural Transformation and the Energy Transition for a Resilient SADC.
01:12This theme is both timely and relevant in the current geopolitical and regional context.
01:19The resilience of our region and indeed of our continent is once again being tested by developments beyond our borders.
01:30The current geopolitical climate, including the United States and Iran's war on Iran and the Iran's retaliation within the GCC
01:43countries is already sending shockwaves through our societies,
01:50threatening supply chains and energy shops.
01:54Beyond the immediate impact of rising global oil prices, a spike in fertilizer cost is set to drive food prices
02:04up and further compromise food security across many of our countries.
02:12As a community, we will not emerge unscathed from this.
02:17Our public finances are likely to come under even a greater strain and it's our people who will bear the
02:27coast.
02:27First, there is also a growing concern that the Gulf states may reassess overseas investments in infrastructure, critical minerals, energy
02:37and technology as their priorities shift towards internal defense and security considerations.
02:45These could carry consequences for investment flows, growth prospects and the development finance across our region.
02:56Our region is facing these external shocks while already carrying a severe debt burden.
03:03Indeed, the African leaders' debt relief initiative has described the present moment as the worst debt crisis in eight years.
03:11Today, more than 750 million Africans live in countries that spend more on debt servicing than on health and education.
03:20In too many cases in our region, spending on interest payments far exceeds investment in schools, hospitals and other social
03:29priorities.
03:31While we have used multilateral platforms and global partnerships to draw attention to these pressures and advocate concrete solutions,
03:41conflicts on this scale can put the brakes on these efforts.
03:48It is no exaggeration to say that it threatens to deepen our vulnerabilities and further delay our development ambitions.
03:57Therefore, this meeting is very timely to help us respond to these realities and to continue to assess our progress
04:08on the RISDP.
04:12These setbacks come just as many of our economies are beginning to recover from the after effects of the COVID
04:19pandemic and the disruptions associated with the Russia-Ukraine war.
04:24Therefore, this raises major questions for the Council.
04:28What does it mean to pursue the vision of a resilient SADC in the face of these realities?
04:34What strategies can we use to insulate ourselves and protect our economies and the more than 380 million people of
04:44our region from these shocks?
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